Needham & Company LLC Issues Positive Forecast for Payoneer Global (NASDAQ:PAYO) Stock Price

Payoneer Global (NASDAQ:PAYO) had its target price lifted by Needham & Company LLC from $10.00 to $14.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also commented on PAYO. Citigroup upped their price target on shares of Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a report on Monday, August 12th. Northland Securities lifted their price objective on Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group upped their target price on Payoneer Global from $8.00 to $9.00 and gave the company a “buy” rating in a report on Monday, October 14th. Cantor Fitzgerald upgraded shares of Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Payoneer Global from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $10.79.

Payoneer Global Stock Up 0.5 %

Shares of NASDAQ:PAYO opened at $10.35 on Wednesday. The stock has a market cap of $3.95 billion, a PE ratio of 38.33 and a beta of 0.82. The company’s fifty day moving average is $7.88 and its 200 day moving average is $6.52. Payoneer Global has a 52 week low of $4.22 and a 52 week high of $10.49.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. The firm had revenue of $248.30 million for the quarter, compared to analysts’ expectations of $225.44 million. During the same period last year, the firm earned $0.05 earnings per share. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. Sell-side analysts anticipate that Payoneer Global will post 0.25 EPS for the current year.

Insider Activity

In related news, CAO Itai Perry sold 4,100 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $8.00, for a total transaction of $32,800.00. Following the completion of the sale, the chief accounting officer now owns 228,738 shares in the company, valued at approximately $1,829,904. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Scott H. Galit sold 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total value of $1,060,500.00. Following the transaction, the director now owns 1,809,674 shares of the company’s stock, valued at approximately $12,794,395.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Itai Perry sold 4,100 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $8.00, for a total transaction of $32,800.00. Following the sale, the chief accounting officer now directly owns 228,738 shares of the company’s stock, valued at approximately $1,829,904. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 158,000 shares of company stock valued at $1,124,500 in the last ninety days. 5.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Payoneer Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP bought a new position in shares of Payoneer Global in the second quarter worth about $29,000. Blue Trust Inc. boosted its position in shares of Payoneer Global by 135.2% in the third quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock worth $33,000 after purchasing an additional 2,552 shares during the period. SageView Advisory Group LLC purchased a new stake in shares of Payoneer Global in the first quarter worth $39,000. GAMMA Investing LLC boosted its holdings in Payoneer Global by 438.5% in the 3rd quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock worth $44,000 after buying an additional 4,736 shares during the period. Finally, Sage Rhino Capital LLC bought a new stake in Payoneer Global during the 2nd quarter valued at approximately $56,000. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

About Payoneer Global

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.